TL;DR
-
Bitcoin has copped loads of unhealthy press over time for its wildly extreme power consumption.
-
However the Bitcoin group at all times insisted that they might develop and undertake renewable power methods quicker than most different industries.
-
That narrative is now being confirmed true, with 53% of Bitcoin’s whole power use being renewable.
Full Story
March 2021: Tesla begins accepting Bitcoin, and over the next weeks, BTC pumps to ~$60k.
Could 2021: Tesla stops accepting Bitcoin, sighting environmental considerations, saying they’re going to contemplate accepting BTC once more, as soon as its powered by 50%+ renewable power.
The Bitcoin value is minimize in half (all the way down to ~$31k) over the next weeks.
September 2023: new modeling has discovered that sustainable power now accounts for 53% of Bitcoin’s whole power use!
Does this imply Tesla goes to instantly begin accepting Bitcoin funds once more? No concept!
The essential half is that this:
Bitcoin has copped loads of unhealthy press over time for its wildly extreme power consumption.
In response, the Bitcoin group at all times insisted that they might develop and undertake renewable power methods quicker than most different industries, as there was a direct financial incentive to take action.
To which many pundits responded “pffft…we’ll imagine it after we see it.”
…nicely, now we’re seeing it!
The inexperienced narrative posed by the BTC group is being confirmed – and powerful narratives can transfer markets!
